Webster Bank purchases naming rights for Arena at Harbor Yard

Keila Torres, Connecticut Post

Keila Torres, Staff Writer

Published 12:15 am, Friday, January 7, 2011

An computer generated rendering of new signage. Webster Bank, a leading New England commercial bank, has entered into a ten-year naming rights agreement for the Arena at Harbor Yard in Bridgeport, Connecticut with Centerplate. Effective immediately, the Arena will be named Webster Bank Arena at Harbor Yard.
Photo: Contributed Photo

An computer generated rendering of new signage. Webster Bank, a...

An computer generated rendering of new signage. Webster Bank, a leading New England commercial bank, has entered into a ten-year naming rights agreement for the Arena at Harbor Yard in Bridgeport, Connecticut with Centerplate. Effective immediately, the Arena will be named Webster Bank Arena at Harbor Yard.
Photo: Contributed Photo

An computer generated rendering of new signage. Webster Bank, a...

An computer generated rendering of new signage. Webster Bank, a leading New England commercial bank, has entered into a ten-year naming rights agreement for the Arena at Harbor Yard in Bridgeport, Connecticut with Centerplate. Effective immediately, the Arena will be named Webster Bank Arena at Harbor Yard.
Photo: Contributed Photo

"We're delighted to demonstrate Webster's commitment to Connecticut's largest city and to have the Webster Bank brand paired so prominently with this spectacular entertainment venue in the heart of the Park City," said Michelle Crecca, Webster Bank's chief marketing officer.

"This is an extraordinary opportunity for us to create a multi-faceted, long-term Webster brand experience -- not only with the people who attend a game or a show, but with city residents and commuters who will see the Webster name from Interstate 95, the train station and the ferry landing," Crecca said.

The bank's name will soon be featured prominently in a new full-color outdoor marquee, on two large signs on the building façade, in several locations inside the building and on highway directional signs.

As part of the agreement, Webster will also receive digital messaging rights, promotional exposure in brochures, collateral materials and websites and premium hospitality options, as well as exclusive rights to install its ATM machines in the arena concourse.

The exposure will result in about 209 million "impressions" each year, according to Lynn Carlotto, the arena's general manager, based on the 138,700 vehicles driving past the arena on I-95 each day, the 103,824 daily commuters on the rail system and the one million commuters traveling by ferry each year.

The arena's new name will also ensure a significant amount of media exposure. The bank currently has 15 branches within a 12-mile radius of the city.

"People will see and hear our name everywhere for whatever event is taking place at the arena, be it a concert or a hockey game," said Brenda F. Greene, Webster's vice president of public affairs.

The arena, in turn, will invest the funds toward their operating expenses.

A portion of the funds will also find their way into city coffers per the lease agreement between the city, which owns the facility, and Centerplate, the arena's private operator, although an exact amount could not be provided Thursday.

"We are extremely proud and pleased to welcome Webster Bank as the naming rights sponsor for our Arena at Harbor Yard," said Mayor Bill Finch. "This is a great day for the city and for the bank."

In addition to the monetary benefit, Carlotto said she expects Webster's investment will improve the public's perception of the arena and the city.

"When a company makes an investment it's a very strong statement," she said. "It does show just how valuable the asset is and the city of Bridgeport is."

A naming rights sponsor for the $56 million arena -- paid for largely with state and city dollars -- has been sought since before the venue opened in 2001.

"The opportunity has always been available," Carlotto said. "We have solicited (but) we have not gotten to the point where other companies have made offers."

Bridgeport-based People's United Bank, for example, has never shown interest in becoming arena sponsor.

Brent Di Giorgio, People's spokesman, said the bank had considered the sponsor option, but "we thought the best impact we could have for our funds would be toward program directly affecting Bridgeport residents."

He noted the People's United Bank Foundation alone has donated over $3.6 million to local charities. "Our support to the Bridgeport community is clear," Di Giorgio said.